Tuesday, April 21, 2009

New York Times - Deathwatch

NYT Co. 1Q losses worsen as ad sales plunge 27 pct

New York Times Co.'s 1Q loss of $74.5M, worse than expected as ad revenue plunges 27 percent

Michael Liedtke, AP Business Writer

Tuesday April 21, 2009, 9:40 am EDT

The New York Times Co. fell into a deeper financial hole during the first quarter as the newspaper publisher's advertising revenue plunged 27 percent in an industry wide slump that is reshaping the print media. Its shares dived Tuesday.